OCP seeks US$540M to support green industry and fertilizer projects in Morocco
The funding will help expand fertilizer production, renewable energy capacity, water supply systems, and green ammonia manufacturing as OCP moves into the next phase of its investment plan.
MOROCCO – OCP Group plans to raise MAD 5 billion (US$540 million) through a perpetual subordinated bond issue as it moves ahead with the next phase of its industrial, energy, and environmental investment programme.
The Moroccan phosphate and fertilizer producer received approval from the Moroccan Capital Market Authority for the fundraising exercise, which will run from June 11 to June 15 and target qualified institutional investors in Morocco.
OCP said the funds will support projects aimed at increasing fertilizer production, expanding renewable energy use, improving water security, and building local green ammonia capacity. The company also aims to strengthen its position in sustainable plant nutrition while supporting Morocco’s environmental goals.
The investment programme marks the second phase of a transformation effort that began in 2008. During the first phase, OCP invested heavily in mining operations, industrial facilities, and logistics infrastructure. The company now plans to focus on large projects linked to mining, renewable energy, desalination, and green technologies.
A major target involves increasing annual production capacity for plant nutrition products from 16 million tonnes to 19 million tonnes by 2027. OCP will support this expansion through the development of a new phosphate mine in Meskala and a new industrial platform in Mzinda.
The group also plans to increase the use of solar, wind, and cogeneration energy across its operations. At the same time, it continues to expand desalination capacity to meet industrial water needs and support nearby communities facing water shortages.
Green ammonia production remains one of the most important parts of the strategy. OCP is developing a green ammonia complex in Tarfaya with annual production capacity of one million tonnes. A 4.4-gigawatt solar and wind energy platform will supply power to the facility.
The company estimates that its wider investment programme could support the creation of about 600 businesses across the energy, agriculture, and industrial sectors and generate roughly 25,000 direct and indirect jobs.
The fundraising announcement comes shortly after OCP reported first-quarter 2026 revenue of MAD 20.1 billion (US$2.17 billion), down from MAD 21.6 billion (US$2.33 billion) during the same period last year.
The company attributed the decline to currency movements and lower sales volumes in some product categories.
Despite higher sulfur costs and continued pressure across global fertilizer markets, OCP maintained solid margins, reporting EBITDA of MAD 5.6 billion (US$590 million) and a gross profit margin of 60%.
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